Las Bambas

Las Bambas is a large-scale, open pit, copper mine located more than 4,000 metres above sea level near Challhuahuacho, between the provinces of Cotabambas and Grau in the Apurímac Region of Peru.

Minera Las Bambas belongs to a consortium led by MMG Limited (MMG) (62.5%) together with Guoxin International Investment Co. Ltd (22.5%) and CITIC Metal Co. Ltd (15%), with MMG as the operator. Commercial production began in 2016, after more than a decade of exploration and construction. Las Bambas has a workforce of 10,635 direct and indirect employees with 98% nationals working on-site.

The Las Bambas mine produces copper concentrate with molybdenum, gold and silver credits, and has an estimated mine life of over 18 years. Key facilities include:

• Primary crusher
• Conveyor belt
• Processing plant
• Tailings dam
• Molybdenum circuit
• Filter circuit
• Thickeners
• Concentrate warehouse
• Mining trucks
• Warehouse in Matarani port

Processing methods include extraction, crushing, grinding, flotation, filtration and transport. The concentrator plant is designed to produce 450,000 tonnes of copper concentrate annually. In 2025 we reached a production of 410,834 tonnes of copper concentrate.

We utilise a dual-mode system for transporting the concentrate. The ore is transported by road in trucks with closed containers to the transfer station. From there, it is transported by rail to the port of Matarani in Arequipa.

Visit the Las Bambas website for further information on the operation.

Las Bambas builds long-term relationships with its stakeholders, promoting community development in conjunction with the Peruvian State. It has a large community development team as well as permanent information offices in seven communities throughout the Apurimac and Cusco regions.

During 2024, the Las Bambas operation:

• Developed the new Corazón de Las Bambas social management model.
• Strengthened the territorial planning capacities of 100 community leaders, to close gaps for the development of their communities.
• Conducted a needs assessment and social baseline survey in 16 communities.
• Ensured that 80% of communities use their community development plans as a basis for dialogue with the government and our company.
• Implemented 25 projects aligned with these community development plans with more than US$5 million in social investment, ensuring a direct impact on improving living conditions and closing gaps.

Regarding local and regional development, we entered into notable agreements with:

• The Ministry of Development and Social Inclusion in the district of Challhuahuacho, with a fund of US$1.3 million. This agreement seeks to implement nutritional support programs and social services in vulnerable communities.
• The Cuna Más National Program in the district of Mara, with an investment of more than US$851,000. This agreement seeks to strengthen early childhood development through the creation of comprehensive care centres.
• The Ministry of Education in the province of Cotabambas (districts of Tambobamba and Coyllurqui), with a fund of US$1.7 million. The purpose of this agreement is to improve infrastructure.

As a trusted community partner, our responsible supply chain included:

• Training in the amount of 500 hours and 3,500 hours of consulting to local businesses.
• The participation of thirty-four local businesses in business roundtables with 9 national contractors and financial institutions.
• Generating more than 1,700 local jobs (indirect jobs generated through MMG’s community sub-contractors/small vendors)

The Las Bambas operation implemented a new social management model, based on four fundamental pillars:

• Multi-stakeholder relationships: Strengthens proactive and lasting ties with communities, the government, public and private stakeholders.
• Social and territorial development: Promotes social investment to bridge gaps and strengthen local capacities.
• Business growth and development: Integrates social management into long-term business planning, ensuring social conditions for the sustainable development of new projects.
• Social risk and impact management: Manages impacts on communities from a human rights perspective and prevents risks that could affect the business.

This model drives the progress and well-being of the company and communities through transparent dialogue, intercultural communication, coordinated social development, and a sustainable approach that balances business and community.

During 2024, the Las Bambas operation:

• Monitored flora and fauna diversity in both the wet and dry seasons in accordance with our Environmental Monitoring Plan.
• Carried out rescues of flora and fauna of conservation interest in areas near the pit, the Chalcobamba dump, and the future Ferro 1 clearing deposit in compliance with the Environmental Management Plan. These rescues, approved by the Peruvian forestry authority, followed updated protocols for reptiles, amphibians, rodents and plants. We also developed our first flora rescue protocol.
• Ensured the conservation of the rescued species by setting up reception sites within our property with conditions similar to those of their original habitat to facilitate their establishment and reproduction. We conducted studies to improve the management and conservation of wildlife species.
• Made progress in purchasing land and properties to mitigate the negative environmental impacts caused by the start of exploitation of the Chalcobamba pit.

Regarding responsible water consumption, we:

• Implemented new technologies to optimise water management which resulted in greater accuracy in measuring and controlling volumes.
• Reported quarterly results of surface water, groundwater and treated industrial wastewater quality monitoring to the Ministry of Energy and Mines, the Environmental Assessment and Control Agency and the National Water Authority.
• Maintained a transparent dialogue with communities directly influenced by water management practices. Communication took place through environmental impact studies and participatory monitoring involving local and regional communities and authorities.

Regarding air quality management, we:

• Have an 11.7 km spkler system at mine access points, dust collectors in grinding and crushing activities, and an airtight concentrate storage facility with negative pressure.
• Have an automated Raring system with atomizers in the primary crusher to create mist and dew drops to trap dust particles.
• Ensured that concentrate trucks comply with the Euro 515 standard and we monitor them with GPS and video cameras to reinforce compliance with speed limits and good practices.

Regarding waste management, we:

• Continue our efforts to reduce the amount of waste in our landfill and improve the conditioning of areas for the disposal of recyclable waste.
• Managed 90.17 tonnes of waste electrical and electronic equipment, which was disposed of for recovery.
• Processed more than 450 tonnes of organic waste for composting.
• Did not record any environmental incidents related to waste management and disposal in 2024.

During 2024 the Las Bambas operation recorded no fatalities due to accidents or injuries with serious consequences.

The implemented workplace safety programs include:

• We Take Care of Ourselves
• Field Task Observation Program
• Safe Hands Program
• Planned Work Observation Program
• Critical Controls Verification Program in the Field
• Bambino Reports Program

Training programs focused on environmental compliance and occupational health and safety continue to be implemented. In 2024 we:

• Restructured Descubre, a program for attracting and promoting internal and external talent.
• Held team building workshops on safety, sustainability and efficiency.
• Ran our ‘Leading by Example’ program with all supervisory-level employees participating.
• Recorded more than 151,000 total training hours.